DA Davidson Upgrades Hormel Foods (HRL) to Neutral

February 21, 2013 12:38 PM EST
Get Alerts HRL Hot Sheet
Price: $36.27 +0.11%

Rating Summary:
    6 Buy, 8 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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DA Davidson upgraded Hormel Foods (NYSE: HRL) from Underperform to Neutral with a price target of $37.00 (from $25.00) following Q1 results.

"Shares remain at a premium valuation, trading above even its packaged-food peers. Yet the execution is, as usual, near flawless," analyst Tim Ramey states.

The firm raised FY13 EPS estimate to $1.95, previously $1.85, and raised FY14 estimate to $2.20, previously $2.05, on the expected $0.13-$0.17 contribution from the Skippy deal.

For an analyst ratings summary and ratings history on Hormel Foods click here. For more ratings news on Hormel Foods click here.

Shares of Hormel Foods closed at $36.12 yesterday.

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